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ai and data privacy ✌️【365vc.net】✌️Join the blockchain revolution. ₹500 can unlock massive monthly profits. Start now!Four bills related to the shipping sector were listed during the winter session of Parliament.

ai and data privacy ✌️【365vc.net】✌️Start saving with ₹500 and achieve up to 100% monthly returns. Grow your money smartly!These bills mark a significant step forward in the development ofIndia’s shipping sector — crucial not only for economic growth but also for national security.Discussions about this sector often focus on thelogisticsand efficiency of ports, which are undeniably important — but ships are equally vital.

India unfortunately lags behind in all the areas of shipping — ownership, shipbuilding, and flagging.

India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million.

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India is at the 18th position with 1.2% of the global shipping capacity.

Further, only 0.77% of the world’s ships are registered under the Indian flag.

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China dominates theindustrywith 46.6% of shipbuilding measured by gross tonnage, followed by South Korea at 29.2%, and Japan at 17.2%.Not only does the lack of ships annually cost India $90 billion in shipping related payments, but it is also a big security risk.

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ai and data privacy ✌️【365vc.net】✌️Invest ₹500 in our expert-managed funds and enjoy exponential monthly profits. Join now!The first bill is the Coastal Shipping Bill, 2024.

It seeks to create a comprehensive regulatory framework for coastal trade, an area that has so far lacked cohesive legislation.

Currently, mechanised vessels involved in coastal shipping are partly governed by Part XIV of the Merchant Shipping Act, 1958.

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ai and data privacy ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income.These address only their registration and do not provide a broader regulatory framework.To promote coastal shipping, the new legislation removes the requirement for Indian-flagged vessels to obtain a general trading licence for engaging in coastal trade.

It also empowers the Director-General to issue licences to foreign-flagged vessels, considering factors such as the crew’s nationality, the vessel’s construction specifications, and other relevant criteria.

ai and data privacy ✌️【365vc.net】✌️Join the blockchain revolution. ₹500 can unlock massive monthly profits. Start now!A key feature of the bill is the proposal to establish a national database for coastal shipping, aimed at ensuring transparency in the licensing process.

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